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NRS set N40.71trn as revenue target for 2026

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The Nigeria Revenue Service (NRS), formerly known as the Federal Inland Revenue Service (FIRS), broke its record revenue collection performance, posting N28.3 trillion to surpass the set target of N25.2 trillion for the year 2025.

This was disclosed on behalf of the NRS Executive Chairman, Zacch Adedeji, by the Executive Director, Government and Large Taxpayers Group, Amina Ado Kurawa, at the opening of a two-day management retreat with the theme “Designed to Adapt, Built to Deliver”, held in Abuja, on Tuesday.

Ado, according to a statement signed by Dare Adekanmbi, Special Adviser (Media) to the NRS chairman, also revealed that the revenue collection target for the revenue administration agency for 2026 has been set at N40.71 trillion, 44 percent higher than
the target for 2025.

The NRS chairman charged the management and staff  of the agency to do away with old beliefs, noting that the credibility of Nigeria’s revenue architecture and confidence in the Nigerian economy rest on their hands.

Adedeji said, “If we walk into the future with rigid beliefs, we will build walls where bridges are required. But if we lead with honesty, courage, and an open mind, we will build an institution worthy of this moment.

“Recently, I reflected deeply on an article in the Harvard Business Review titled ‘The Hidden Beliefs That Hold Leaders Back.’ Its central argument is both simple and confronting: leaders rarely fail because they lack intelligence, experience, or strategy. More often, they fall short because of the invisible beliefs they carry about themselves, about others, and about what leadership should look like, beliefs that quietly shape decisions, behaviours, and outcomes.

The Nigeria Revenue Service will not be defined by what we say in this room. It will be defined by who we become after we leave it.”

“The Executive Director, while giving a breakdown of the 2025 collection figures and how the agency surpassed the last target by 12 per cent, said non-oil taxes accounted for N21.4 trillion of the collection, against N18 trillion projected.

Total oil tax collection, according to her, came to N6.8 trillion, representing 95 per cent of the N7.2 trillion target set for the sector.

Both oil and non-oil tax revenue grew year on year by 19 percent and 35 percent, respectively.

“For the year 2025, oil tax revenue totalled N6.6trillion, representing a growth of 19 per cent over the N5.8 trillion realized during the corresponding period in 2024.

“Non-oil tax revenue for 2025 exceeded the 2024 total, reaching N21.5 trillion compared to N15.9 trillion for the same period in 2024—representing a growth of 35 per cent.

“This growth was driven by administrative enhancements, broadening of the Withholding system, digitalization efforts, improved tax compliance initiatives and stronger enforcement tactics introduced by NRS,” the statement said.

The statement added that the 44 per cent increase in the target for the agency was based on the expanded mandate of NRS to be a revenue system integrator for the country, including the collection of royalty hitherto the responsibility of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and so on.

Earlier, the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, who joined the event virtually, charged Nigerians to rely more on made-in-Nigeria products, saying this would reduce revenue losses.

“We talk about buying from West Africa or trading with Africa as a whole, but intra-Nigerian trade is critical. We all know what spending in Nigeria does for the economy; we know what it does for the revenue targets of NRS.

“The debt service that was paid by the developing countries in 2024 was 163 billion dollars, while the overseas development assistance that came in was 42 billion dollars. The foreign direct investment and the private sector funding that came in from abroad to developing countries were just 97 billion dollars.

“So, you can see that, as developing countries, the flow of funding. What we are giving out is more than we are getting through these various categories.

Clearly, it is what we do for ourselves internally that is going to be important at this time,” he said.

He reiterated the government’s desire to deliver in the areas of fiscal reforms and revenue mobilisation, saluting the management and staff of NRS for not just the pivotal but indispensable role they play in domestic revenue mobilisation.

Also speaking, the chairman of the National Tax Policy Implementation Committee, Joseph Tegbe, stressed the need for clinical delivery and execution of the tax laws.

Tegbe said that the quality of execution would ultimately determine whether the reform would succeed or merely join a long list of well-intentioned initiatives that failed to transform outcomes.

He explained that the country’s continued dependence on what he described as volatile oil revenues exposes it to shocks beyond control, “while rising public expenditure demands stable, predictable, and sustainable domestic revenue.

“History will judge this reform not simply by the revenues it generates, but by the trust it rebuilds between the Nigerian state and its citizens.

“It is essential that we are clear about the role of the Nigeria Revenue Service. NRS is not just another agency. It is the nation’s revenue system integrator,” he said.

 

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Makinde hails Ogundoyin’s tenure as Conference of Speakers chair

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Oyo State Governor, Seyi Makinde, has commended the Speaker of the Oyo State House of Assembly, Rt. Hon. Adebo Ogundoyin, for the successful completion of his tenure as Chairman of the Conference of Speakers of State Legislatures of Nigeria, describing it as impactful and transformative.

The governor said Ogundoyin’s tenure was eventful and marked by remarkable, trail-blazing achievements that brought pride to Oyo State and strengthened legislative governance across the country.

Governor Makinde also congratulated the newly elected Chairman of the Conference and Speaker of the Delta State House of Assembly, Rt. Hon. Emomotimi Guwor, wishing him a successful and impactful tenure.

According to Makinde, Ogundoyin’s emergence as Chairman was historic, noting that he became the youngest Speaker and the first from an opposition party to lead the Conference— a development he described as symbolic of a generational shift and a new era of inclusive, reform-oriented leadership.

The governor applauded Ogundoyin’s vision and dedication to service, which, he said, drove key reforms such as the digital transformation of state legislatures through a strategic partnership with the United Nations Development Programme (UNDP) aimed at modernising legislative processes. He also credited Ogundoyin with championing legislative autonomy and strengthening the institutional voice of state legislatures nationwide.

Makinde further highlighted achievements recorded under Ogundoyin’s leadership, including the strengthening of intergovernmental collaboration through sustained engagement with the Nigeria Governors’ Forum (NGF) to align Executive–Legislative priorities, advance constitutional amendments, deepen governance reforms and strengthen democracy at the sub-national level. He added that Ogundoyin intensified advocacy for the full implementation of financial autonomy for state legislatures.

The governor also noted that the Conference, under Ogundoyin, played a significant role in the constitutional review process, expanded international and diplomatic engagements focused on democratic values, legislative accountability and institutional capacity building, and fostered strategic collaborations with federal institutions to enhance fiscal transparency, improve revenue and tax legislation, and advance sub-national economic reforms.

Commending further milestones, Makinde said Ogundoyin led the harmonisation of legislative procedures across states and spearheaded the establishment of Nigeria’s first Post-Legislative Scrutiny Unit at the sub-national level.

It is also on record that during Rt. Hon. Ogundoyin’s tenure, the Conference of Speakers actively promoted gender inclusion and equity, strongly advocated increased women representation in governance and legislative leadership, and sustained continuous engagement with the legislative workforce through dialogue with the Parliamentary Staff Association of Nigeria (PASAN),” the governor said.

Governor Makinde wished Ogundoyin success in his future endeavours as he continues to serve the nation.

 

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Breaking News: Akeem Akintunde of OGTV is Dead

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Akeem Akintunde, former Director of Programmes at Ogun State Television (OGTV) and ex-Chairman of the Sports Writers Association of Nigeria (SWAN), Ogun State chapter, is dead.

The veteran broadcaster and sports journalist passed away on Wednesday night following a protracted illness, the Nigeria Union of Journalists (NUJ), Ogun State Council, has confirmed.

A statement released by the Council’s Secretary, Bunmi Adigun, described his death as the end of an era in Ogun State journalism.

“His passage tonight after a protracted illness marks the end of a remarkable career defined by dedication, excellence, and an unwavering passion for journalism and sports,” the statement read.

Until his death, Akintunde was widely regarded as a repository of broadcasting and sports knowledge. Colleagues recall a man who “lived and breathed journalism and sports until his last moments.”

His tenure as Director of Programmes at OGTV remains one of the most impactful in the station’s history, earning him admiration across generations of broadcasters.

Burial arrangements will be announced by the family.

The NUJ has called on colleagues and associates to uphold the family in prayers as they mourn what it termed an “irreparable loss.”

 

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Oyo Council Chairmen Congratulate Ogundoyin on his Incredible Landmark Feats as Chairman Conference of Nigeria Speakers

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The Forum of Oyo State Local Government Chairmen has praises the Speaker, Oyo State House of Assembly, Rt. Hon. Adebo Ogundoyin, for his landmark leadership and impactful contributions to governance, particularly during his tenure as Chairman of the Conference of Speakers of State Legislatures of Nigeria.

This words of commendation followed the successful completion of Ogundoyin’s tenure as Chairman of the Conference of Nigeria Speakers where the council chairmen said he distinguished himself through purposeful leadership and institutional reforms that strengthened legislative practice across the country.

In a statement jointly issued by the Forum Chairman, Hon. Sikiru Sanda and Publicity Secretary, Hon. Ibrahim Akintayo respectively, the chairmen noted that Rt. Hon. Ogundoyin’s tenure was marked by a strong commitment to transparency, youth inclusion, gender advocacy, and international engagement, which helped position the Conference as a modern, responsive, and forward-looking institution.

According to the statement, Ogundoyin’s leadership represented a defining period of reform, inclusion, and institutional strengthening within the Conference of Speakers.

As the youngest and first opposition Speaker to occupy the position, he was described a genius by bringing fresh energy and a unifying leadership style that elevated the relevance of state legislatures in Nigeria’s democratic governance.

The Forum further highlighted that under his leadership, the Conference pursued far-reaching reforms, including the promotion of legislative autonomy, the digitalisation of parliamentary processes, the harmonisation of standing orders across state assemblies, and the introduction of post-legislative scrutiny to ensure that laws deliver measurable impact.

Speaking further, the council chairmen said Ogundoyin also strengthened collaboration between state assemblies, the executive arm of government, and development partners, thereby ensuring that sub-national legislatures maintained a strong and effective voice in constitutional and broader governance reforms.

The Forum concluded that Rt. Hon. Adebo Ogundoyin’s legacy as Chairman of the Conference of Speakers of State Legislatures of Nigeria remains one of the best In terms of innovation, unity, and sustainable legislative development across state legislatures nationwide.

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Oyo Govt, AfCFTA meet, deliberate on collaborative initiatives …As Mene lauds Makinde

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Oyo State Government has met with the leadership of the African Continental Free Trade Area in Ghana to discuss collaborative initiatives as the state begins the full implementation of the AfCFTA Strategy.

This followed a Training the Trainers Workshop held in Ibadan last week, with the Special Adviser on International Trade and AfCFTA, Ms Neo Theodore Tlhaselo, stating that the deliberation in Ghana, which was the first in 2026, was held to “set the tone for the collaborative initiatives intended between Oyo State Government and the AfCFTA Secretariat, as the full rollout of implementation begins.”

According to her, the discussion centred on the 2026 Action Plan of the Oyo State Government on AfCFTA, following the allocation of funds to the AfCFTA in the 2026 Budget to drive the initiative and support the Oyo State AfCFTA Strategy rollout.

At the meeting, the AfCFTA Secretary-General, Mr Wamkele Mene, praised Oyo State Governor, Engr. Seyi Makinde for exhibiting purposeful and visionary leadership, noting that Oyo State stands out as one of the few governments with isolated budget for the AfCFTA rollout outside the budget of its Ministry of Trade.

Mene also noted that Oyo State Government, through the Governor, has continued to demonstrate commendable commitment to AfCFTA, a development which he said would greatly help the state’s AfCFTA Implementation Strategy and propel the state to economic success.

The meeting discussed the action plan and collaborative engagements with the AfCFTA Secretariat, as the Secretary-General engaged with the state government on advancing AfCFTA implementation at the sub-national level and accelerating industrial development in Oyo State.

Tlhaselo added that the discussion also touched on strengthening Oyo State as a manufacturing and trade hub, leveraging on special economic zones, and modernising trade systems through digital solutions, while also placing emphasis on attracting strategic investment, improving logistics and border efficiency, and linking local industries to continental value chains under the AfCFTA framework.

She said: “You would recall that we had the Training of Trainers Workshop on AfCFTA Implementation Strategy in Oyo State on 6th February, 2026, which sought to further dissect the strategy and key in economic players and government officials for an understanding of their role in the implementation and roll out.

“Trainers were encouraged to further train their colleagues and traders on the strategy so that the rollout becomes seamless.

“Following this workshop, we had to come to the AfCFTA Secretariat in Accra, Ghana, where we met with the Secretary-General, AfCFTA, HE Wamkele Mene.

“This first meeting of the year was to set tone for the collaborative initiatives intended between Oyo State Government and AfCFTA Secretariat as the full rollout of implementation begins.”
She added, “The engagement highlighted the growing importance of state-level leadership in delivering practical trade outcomes and transforming AfCFTA from policy into tangible economic opportunity -driving jobs, competitiveness, and deeper regional integration.”

 

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Adedeji: Technology, critical to success of new tax laws

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The Executive Chairman of the Nigerian Revenue Service (NRS), Dr. Zacch Adedeji, on Wednesday, February 11, 2026, described technology as a critical factor in the implementation of the new tax laws in the country.

He stated this while delivering the maiden convocation lecture of the Federal Polytechnic, Ayede, Ogo-Oluwa Local Government Area of Oyo State.

Adedeji according to a statement issued by his Technical Assistant, Print Media, Mr. Sikiru Akinola, listed some of the most fundamental challenges confronting taxation to include infrastructure, skills, trust, and resistance.

In the lecture entitled ‘The Role of Technology in Implementing Nigeria’s New Tax Laws: Challenges, Prospects, and Implications for National Development,’ the NRS Chairman said each of these challenges would be addressed with the imminent upgrading of the country’s tax system for a digital environment.

Adedeji said, “Nigeria has recently enacted a new set of tax laws, representing the most significant restructuring of our nation’s fiscal legislation in 50 years. While public conversation often frames these changes as legal reforms, and that is true, it is also an incomplete picture.

“These laws are not merely changing rates, definitions, or administrative powers. They are quietly redefining how authority operates within the tax system. This is a complete structural overhaul, signaling the end of tax collection as a manual task and the beginning of tax intelligence.

“If you read the new laws carefully, you will notice a subtle but profound assumption woven throughout their fabric. They presuppose the existence of reliable taxpayer identification, integrated data across institutions, traceable transactions, automated processes, and scalable enforcement.

“In other words, these laws are built for a digital environment. They cannot function properly in a manual, fragmented, paper-based system. The implication is clear: without technology, the laws remain aspirational. With technology, they become operational.

“This transition is central to the mandate of the Nigeria Revenue Service as we implement this new legal framework. Historically, tax administration relied heavily on human discretion over who is registered, who is assessed, who is audited, and who is penalised.

“While discretion is not inherently evil, excessive discretion creates inconsistency, which in turn breeds mistrust and drives non-compliance.”

Adedeji noted that when infrastructure improves, capacity grows, trust is protected, and resistance is managed just as technology begins to do what policy alone cannot.

“One of the most important prospects of a technology-driven tax administration is the ability to expand the tax base without increasing tax rates. This matters deeply in a society where citizens already feel overburdened.

“By improving visibility and bringing previously unseen economic activity into view, technology levels the playing field. When compliance broadens, the pressure on the existing base reduces, fairness improves, and legitimacy grows. This is how modern tax systems grow revenue sustainably”, he added.

The Speaker of the House of Representatives, Hon. Tajudeen Abass, in his remarks, urged the graduating students to be good ambassadors of the institution.

Abass, who was represented by the Senator representing Oyo North, AbdulFatai Buhari, charged the graduating students not to relent in their bid to acquire more knowledge.

He also lauded Adedeji for leading the change in tax administration in the country.

The institution’s Governing Council Chairman, Yakubu Datti, commended Adedeji for leading the re-engineering of Nigeria’s tax architecture.

The Rector of the institution, Dr. Taofeek Abdul-Hameed, charged the graduating students to emulate Adedeji who, he said, began his journey from a Polytechnic.

 

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OYRLEA Gives Durantee Farm Final 14-Day Ultimatum Over Environmental Violations in Ibadan

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The Oyo State Rule of Law Enforcement Authority (OYRLEA) has issued a fresh 14-day compliance notice to Durantee Farm Limited, Challenge, Ibadan, over its failure to comply with environmental directives earlier issued to the company.

The notice was served by OYRLEA, in collaboration with health officers from the Ministry of Environment and Natural Resources.

The joint-team carried out a follow-up inspection on Monday, February 9, 2026, after the expiration of a 21-day Notice to Abate Nuisance previously served on the company on November 10, 2025, over alleged environmental violations.

The earlier enforcement notice was reportedly issued due to improper wastewater management and the discharge of untreated effluents into public water bodies.

During the latest inspection, enforcement officers observed that the company had not commenced any visible corrective action on the identified infractions, particularly the reconstruction, structural modification and covering of its open Effluent Treatment Plant (ETP).

Responding to the observations, the Human Resources and Administration Manager of the company, Alhaji Ebunade Oloyeede, told the inspection team that the firm had engaged a consultant to prepare plans for upgrading the facility.

He further disclosed that the company had written to the Ministry of Environment and Natural Resources seeking approval for the proposed upgrade, but claimed that no response had been received, which he cited as the reason for the delay.

Following this, OYRLEA directed the company to report to the Authority within the stipulated period with verifiable evidence of the consultant’s engagement, project drawings, and proof of submission of its letter to the ministry.

The Authority warned that failure to comply within the 14-day window would attract further enforcement action in line with relevant environmental and public health laws of Oyo State.

OYRLEA reaffirmed its commitment to enforcing environmental standards and safeguarding the health and wellbeing of residents across the state.

 

 

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